China Economy Weakens but OPEC Not Concerned

Friday saw some bumpy trading action for oil markets, with oil prices slipping in the morning before rising again heading into the close. Weakened trade sentiments are weighing on oil this morning. Crude oil is currently trading at $56.45, down 79 cents from Friday’s close. Fuel prices are sinking lower as well after small losses […]

Week in Review November 8, 2019

Crude markets were up for the week.  Positive sentiment regarding trade talks between the US and China overshadowed bearish inventory news this week.  Agreements between the two countries to cancel tariffs in different phases was the major market driver to close out the week. Mid-week news from the EIA regarding a larger-than-expected crude build moved […]

Trade Deal Progress Dims

After rising to the highest point since September yesterday, crude markets retreated while retaining 80-cent gains. Today, those gains have been shed. Crude oil is currently trading at $56.17, down 98 cents (1.7%) from Thursday’s close. Fuel prices are down as well, with diesel leading the complex lower.  Diesel prices are trading at $1.8795 this […]

Trade Optimism from China Overshadows Bearish Inventory News

Positive trade news out of China late yesterday is driving markets higher this morning.  WTI Crude is trading at $57.30, a gain of 95 cents. Fuel is up in early trading this morning.  Diesel is trading at $1.9439, a gain of 1.6 cents.  Gasoline is trading at $1.6394, a gain of 1.3 cents. On Wednesday, […]

Inventory Build Beats Positive Trade Sentiment

A larger-than-expected build in crude stocks is putting downward pressure on prices this morning.  WTI Crude is trading at $56.98, a loss of 25 cents. Fuel is down this morning.  Diesel is trading at $1.9440, a loss of 1.3 cents.  Gasoline is trading at $1.6573, a loss of 1.7 cents. On Tuesday, crude prices rose […]

Mid-Week Review – November 6, 2019

The First OPEC Member to Cut Oil Targets Over Climate Concerns OPEC’s fourth-largest producer currently, Kuwait, may revise down its long-term oil capacity production targets due to concerns that environmental risks will limit oil demand growth, in what would be a first acknowledgement from an OPEC member that climate change could stifle oil demand.  Click […]

Comfortable with Oil Prices? That’s a Bad Sign

Oil prices are continuing their upward trend this morning after gains weakened yesterday afternoon. Although prices launched nearly a dollar higher at points in the day, crude closed just 30 cents higher at the end of yesterday’s session. Today, crude oil is trading at $56.94, up 40 cents. Fuel prices also saw moderate gains yesterday, […]

Saudi Aramco Officially Going Public

Oil prices roared higher on Friday thanks to surprisingly strong economic reports in the US and China. Today those gains continue. WTI crude oil is trading at $57.01, a gain of 80 cents (1.4%). Fuel prices are also zipping higher. Diesel is trading at $1.9568, up 2.4 cents (1.2%) from Friday’s close. Gasoline prices are […]

Week in Review – November 1, 2019

The Crude Market was down for the week.  Pessimism regarding delays in signing a phase 1 trade deal with China have helped to bring the market lower this week.  Mid-week the Fed cut interest rates 25 basis points but that hardly registered in the crude market because of a larger-than-expected crude build reported by the […]

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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